Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 38,625,000, a decrease of 13% compared to HKD 44,404,000 for the same period in 2022[4] - Other income decreased significantly to HKD 149,000 from HKD 1,191,000, representing an 87% decline[4] - The gross loss for the period was HKD 3,164,000, an improvement from a loss of HKD 7,432,000 in the previous year, indicating a 57% reduction in losses[4] - The total comprehensive loss for the period was HKD 2,944,000, compared to HKD 9,265,000 in the prior year, reflecting a 68% improvement[7] - Basic and diluted loss per share for continuing operations was HKD 0.39, down from HKD 0.72 in the previous year[9] - The group reported a loss before tax of HKD 3,164,000 for the six months ended December 31, 2023, compared to a loss of HKD 9,666,000 for the same period in 2022[25] - The net loss attributable to the owners of the company for the six months ended December 31, 2023, was approximately HKD 4,600,000, a reduction of 51.6% from HKD 9,500,000 in the same period last year[86] Assets and Liabilities - Non-current assets decreased to HKD 22,985,000 from HKD 24,557,000, a decline of 6%[10] - Current assets increased significantly to HKD 48,267,000 from HKD 26,130,000, representing an 85% increase[10] - The total assets of the group as of December 31, 2023, amounted to HKD 71,252,000, with total liabilities of HKD 9,196,000[27] - The group’s total liabilities include trade payables and accrued expenses amounting to HKD 6,402,000 from continuing operations[27] - The company reported a total liability of HKD 12,246 million, with segment liabilities at HKD 7,162 million[29] Revenue Segments - Total revenue from continuing operations for the six months ended December 31, 2023, was HKD 38,625,000, a decrease of 13.4% compared to HKD 44,404,000 for the same period in 2022[21] - Revenue from the renewable energy segment (recycled oil/biodiesel trade) was HKD 35,315,000, down 13.9% from HKD 41,045,000 in the previous year[24] - The construction waste trade segment generated revenue of HKD 1,970,000, a decrease of 4.6% from HKD 2,066,000 in the same period last year[24] - The renewable energy business segment achieved a threefold increase in net profit due to the strategic shift towards high-value operations in the collection and processing of waste cooking oil[86] - Construction waste and processing services generated revenue of approximately HKD 2 million, a slight decrease from HKD 2.1 million due to intense regional competition[88] - The plastic recycling and metal waste segment maintained revenue at approximately HKD 1.2 million, facing significant challenges from weak demand and rising costs[90] - The lending business reported stable revenue of approximately HKD 100,000, with a cautious approach to new loans due to tightening financing conditions[91] Operational Developments - The company continues to focus on its core business activities, including construction waste trading and recycling services, while exploring new market opportunities[13] - The renewable energy business has established a strong network for sourcing waste cooking oil and biodiesel, enhancing supply stability and customer satisfaction[55] - The group has expanded its operational team in Hong Kong to improve procurement capabilities and customer outreach in the waste cooking oil market[60] - A new storage and processing facility for waste cooking oil has been successfully established in Hong Kong, enhancing operational capacity[61] - The group has begun collecting waste cooking oil using its own fleet of collection vehicles, improving logistics and operational efficiency[62] - The construction waste and processing services business in Germany has established stable operations and long-term relationships with local partners and customers[65] Employee and Cost Management - Employee costs for the six months ended December 31, 2023, were HKD 7,192 million, a decrease of 20.2% from HKD 9,006 million in the same period of 2022[32] - As of December 31, 2023, the company had 35 employees, a decrease from 37 employees as of June 30, 2023[107] Financial Strategy and Future Outlook - The company anticipates a slowdown in global GDP growth in 2024 due to high interest rates and economic uncertainty, but expects a recovery in the Asian waste cooking oil market[104] - The company has no significant capital commitments or contingent liabilities as of December 31, 2023[102][103] - The company is reassessing the commercial viability of its plastic recycling business in Germany due to significant challenges and pressures in the industry, with expectations for 2024 to remain challenging[106] Share Capital and Dividends - The issued share capital increased to HKD 135,631,000 after the placement of 220,000,000 shares at a price of HKD 0.128 per share, aimed at providing additional working capital[50] - The company did not declare an interim dividend for the six months ended December 31, 2023, consistent with the previous year[38] - The board of directors does not recommend the payment of an interim dividend for the six months ending December 31, 2023[108] Compliance and Risk Management - The group has not adopted any new or revised Hong Kong Financial Reporting Standards that may impact the financial statements significantly[18] - The group is currently evaluating the potential impact of future new or revised Hong Kong Financial Reporting Standards but has not yet estimated their effects[18] - The audit committee has reviewed the accounting principles and policies adopted by the group and discussed risk management systems and financial reporting matters[113]
绿色能源科技集团(00979) - 2024 - 中期业绩